Besides the pandemic that resulted in higher interest rates, the default by Future Retail has dealt a blow to investor sentiment.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
The deal street has come out of the record lows in the pandemic-washed out June quarter with transaction value growing almost 6 per cent to $21.64 billion in the July-September quarter, thanks to a string of equity sales by Reliance in its telecom and retail arms, says a report.
"I do not think there is any self-imposed deadline for action, but I think we are looking at weeks, not months," White House Chief of Staff Mark Meadows told reporters aboard Air Force One, flying with President Donald Trump form Atlanta.
Billionaire Mukesh Ambani's Reliance Industries has announced the contours of carving out of its oil-to-chemicals (O2C) business into an independent unit with a USD 25 billion loan from the parent, as it looks to unlock value by selling stakes to global investors like Saudi Aramco.
RIL, however, remains miles ahead of TCS in other financial parameters such as total revenue, operating profit, net worth, assets, and market capitalisation.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Pune-based entrepreneur's unlisted company is already the largest vaccine manufacturer in the world and the networth has been helped by vaccine distribution and manufacturing potential of his business, it added. Recentrly, Serum struck an agreement with AstraZeneca to manufacture 1 billion doses of coronavirus vaccine being developed by Oxford University.
RIL should wait-and-watch before investing in telecom sector.
A day after the Congress said the 'doors are open' for Pilot and gave him a second chance, the party virtually closed them for him on Tuesday, sacking him as Rajasthan deputy chief minister and state party chief, three days after he mounted a rebellion against his state chief minister Ashok Gehlot.
India's largest firm Reliance Industries has initiated work-from-home for its staff while keeping open consumer-facing businesses of hospital, retail stores and telecom with a minimum workforce amid increasing number of Covid-19 cases in the country. Chairman and Managing Director Mukesh Ambani will hold a meeting almost every third day to take stock of the impact of novel coronavirus (covid-19) outbreak on his employees and business, officials said.
RIL's debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019.
Record equity divestment by the Reliance Group in its telecom and retail businesses garnering around $23 billion revved up the deal street in 2020, which otherwise would have gone down as one of the dullest on record, and dealmakers are seeing sunnier days in 2021 given the large scope for consolidation in a slew of sectors ravaged by the pandemic. With Jio Platforms alone garnering over $16 billion (Rs 1,18,318 crore) by selling 25.24 per cent stake and Reliance Retail notching up $6.4 billion (Rs 47,265 crore) by divesting around 9 per cent shareholding, the deal street signed off with $85 billion in the deal kitty across 1,270 transactions. This is higher by about 10 per cent over 2019. What is significant is that over a third of the total deal value came from Reliance transactions, say investment bankers.
Feedback from telecom members indicated a 10 per cent increase in traffic, but no fears of choked networks. Telcos currently use 65-70 per cent of the network capacity. In other words, they have enough additional capacity to handle the new pressure without clogging the system.
Indian Railways is in talks with Reliance Jio Infocomm to allow the Mukesh Ambani-led telecom major's use of its towers. The aim is seamless mobile and internet connectivity for passengers along the 67,368-km of tracks. The Railway Board has entrusted its RailTel Corporation arm to work on the modalities with Jio. The Jio tie-up is expected to bring down its telecom bill by at least 35 per cent from this financial year.
Bucking the overall downtrend, shares of RIL rallied nearly 10 per cent, capping the Sensex loss to a large extent.
The company's revenue rose 23.9 per cent to Rs 101,169 crore
The tribunal accepted the government's argument that licence or spectrum is a state asset over which Aircel had no right of ownership.
The firm earned $11.6 on turning every barrel of crude oil into fuel in the quarter.
Reliance is leveraging the technological change of building a virtualised 5G network which would see the current hardware-dependent networks shift to software-centric platforms.
TimesJobs.com's employment index -- The RecruiteX -- recorded 14 per cent increase in September 2014 over August 2014 with the IT/Telecom industry witnessing a 20 per cent increase in employment opportunities in just one month.
Reliance has significant investments in telecom, consumer retail and media businesses in India.
City-wise, Delhi NCR was the only metro to report a rise in hiring activity in April.
The broader NSE Nifty reclaimed the key 10,100-mark and touched a high of 10,155.65, before finally settling at 10,124.35
In insolvency proceedings, Ericsson will be treated as only an operational creditor and may end up losing the Rs 550 crore
Global software major Microsoft is the 'most attractive employer' in India, while IT, telecom and ITes are the most preferred sectors by the workforce, a survey by HR services firm Randstad said.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
The new entity will continue to work on technologies in areas like healthcare and education, while also looking at next-gen competencies like artificial intelligence, Blockchain, virtual and augmented reality, among others.
The rating affirmation reflected RIL's strong business profile - a large-scale refinery with a capacity of around 1.2 million barrels a day and dominant market position in petrochemicals.
Chinese mobile brands are deeply entrenched in the Indian market. A move to bar them may send a bold diplomatic message. But its cost for the local industry is anybody's guess. In the event that Chinese brands face curbs, two handset makers - Samsung and Apple - squarely stand to gain.
Bankers said as part of its debt reduction plan, Canada's Brookfield-sponsored India Infrastructure Trust acquired a pipeline for Rs 13,000 crore from East West Pipeline Ltd, an arm of Reliance Industries Holding Private Ltd, and all the liabilities are now off the subsidiary's books.
The numbers hidden behind the results tell a story of zero-return businesses and lower prospects for the core units
Most borrowers may not be aware, but quite a few banks already offer external benchmark linked home loans to favoured borrowers, says Harsh Roongta.
The RBI governor's assurance should give investors enough confidence to start believing in the NBFC sector again, say bankers.
'Tinkering will not do. Merely staggering spectrum dues comes nowhere near solving the problem,' cautions Rahul Khullar.
'The government is unwilling or unable to provide the kind of relief that Vodafone India is asking for.'
Hyderabad-based Megasoft, a product-based technology company, announced on Tuesday that its business headquarters will be moved to the US while the global delivery, research and development, and back office support system will be run out of India.
Tata Group had hinted at combining its enterprise business with Tata Communications and its fixed-line and broadband businesses with Tata Sky.
Analysts wary about investment in 'unrelated' sectors, insiders say retail will break even by month-end.
A number of investment banks in their research reports on Wednesday hailed the deal, saying it was strategic in nature for both cash-rich RIL and debt-laden RCOM.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances